gerard2006
Member
- Jurisdiction
- New York
Folks - I'm using an employer-sponsored service to either create a last will or a trust and had some high level questions. Our situation is fairly straight forward with young kids, some passive real estate investments and retirement accounts. Btw we retire, we do expect 3-4m in assets incuding our primary home
1) Is it worthwhile undergoing the complexity of an irrevocable trust to simply quality for Long-term medicaid help (either center or home based)
2) If no.1 is a Negative, then is a revocable living trust worth it to avoid cost of probate (I've heard 3-4% of estate size in the NY area being the norm). The service I use includes trusts in their package so I get to choose if I simply want a last will or 'trust + pour-over will'
Thanks
1) Is it worthwhile undergoing the complexity of an irrevocable trust to simply quality for Long-term medicaid help (either center or home based)
2) If no.1 is a Negative, then is a revocable living trust worth it to avoid cost of probate (I've heard 3-4% of estate size in the NY area being the norm). The service I use includes trusts in their package so I get to choose if I simply want a last will or 'trust + pour-over will'
Thanks